Pre-Close Trading Update and Notice of Results

RNS Number : 0302O

YouGov PLC

27 January 2023

 

27 January 2023

YouGov plc

("YouGov" or "the Group" or "the Company")

Pre-Close Trading Update and Notice of Results

Strong resilience in H1 against a difficult macro environment
Continued confidence in achieving FY23 expectations

YouGov, the international research and data analytics group, today issues a trading update for the six months ending 31 January 2023.

YouGov has performed well during the period, with continued growth across most divisions and geographies. The Group's strong performance, against a difficult macro-economic backdrop, has largely been driven by clients spending on strategic market research which has accelerated our panel-based Custom Research work, with increasing opportunities for multi-year contracts and trackers.

Geographically, the US remains a major growth driver with large market opportunities continuing to accelerate in key sectors, including technology. Demand in the UK has picked up despite recessionary market conditions with the commercial teams delivering a strong performance in the first half. The Board remains cognisant of the broader ongoing macro-economic environment and will continue to monitor performance in key markets.

As a result of this resilient performance in the first half, we remain cautiously optimistic on the Group's prospects for FY23 and aim to maintain momentum as we approach the final stretch of our current long-term strategic growth plan (FYP2) to 31 July 2023. Driven by continued investment in our technological capabilities and our international reach, the Group's sales pipeline remains healthy as we go into the second half of the financial year. Consequently, the Company remains confident of achieving top-line growth for the full year in line with current market expectations¹, with margin expansion despite continued investment aimed at positioning the business for further growth in the next strategic growth plan (SP3).

Update on Board Succession Planning

As previously disclosed, Roger Parry will be standing down from the role of Non-Executive Chair, with Stephan Shakespeare assuming the role of Non-Executive Chair, upon a new CEO commencing in post, currently anticipated to be on 1 August 2023. The Board's Nomination Committee is continuing to work with the executive search firm, Egon Zehnder, on the CEO search process and will provide an update in due course.

Notice of Results

YouGov will publish its results for the six months ended 31 January 2023 on 21 March 2023.

1 Based upon the average of 7 analyst estimates, the Company-compiled consensus estimate for FY23 Group revenue is £264 million

Enquiries

YouGov plc   Stephan Shakespeare / Alex McIntosh / Hannah Jethwani	020 7012 6000
FTI Consulting   Charles Palmer / Tom Blundell / Jemima Gurney	020 3727 1000
Numis Securities (NOMAD and Joint Broker)   Nick Westlake / Iqra Amin	020 7260 1000
Berenberg (Joint Broker)   Mark Whitmore / Richard Andrews / Alix Mecklenburg-Solodkoff	020 3207 7800

About YouGov

YouGov is an international online research data and analytics technology group.

Our mission is to offer unparalleled insight into what the world thinks.

Our innovative solutions help the world's most recognised brands, media owners and agencies to plan, activate and track their marketing activities better.

With operations in the UK, the Americas, Europe, the Middle East, India and Asia Pacific, we have one of the world's largest research networks.

At the core of our platform is an ever-growing source of consumer data that has been amassed over our twenty years of operation. We call it Living Data. All of our products and services draw upon this detailed understanding of our 22+ million registered panel members to deliver accurate, actionable consumer insights.

As innovators and pioneers of online market research, we have a strong reputation as a trusted source of accurate data and insights. Testament to this, YouGov data is regularly referenced by the global press, and we are the second most quoted market research source in the world.

YouGov. Living Consumer Intelligence.

For further information, visit business.yougov.com

 

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